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NAFCU's Carrie Hunt met with industry trades at ASAE Friday to discuss a legislative fix to the excise tax issue.

A new NAFCU Compliance Blog post out today provides resources to help credit unions report the 21 percent excise tax on excess executive compensation, which was implemented under the Tax Cuts and Jobs Act (TCJA). NAFCU's Carrie Hunt also met Friday with other industry trades to discuss a possible legislative fix to ensure parity between for-profit and not-for-profit corporations.

Hunt, NAFCU's executive vice president of government affairs and general counsel, continues to work with the coalition, including the American Society of Association Executives (ASAE), to push for a legislative fix to the issue. The TCJA contained a provision allowing for-profits to grandfather in binding contracts in effect before enactment, but did not include the same clause for not-for-profit tax-exempt organizations.

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August 21, 2018Add to Calendar2018-08-21 18:00:002018-08-21 18:00:00The ABCs of Executive Benefits
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Today’s job market for credit union CEOs is more competitive than it was just ten years ago. The aging of a significant percentage of chief executives has created both opportunities and challenges. For the board of directors, retaining and motivating a high performing CEO is a key operational challenge, fraught with regulatory compliance and due diligence pitfalls. The good news is that with a properly designed and serviced executive benefit plan, boards can keep their key leadership in place.
Join us for an overview of executive benefits:
How they retain and motivate
Different types of plans and how to customize
Regulatory compliance and due diligence
How plans generate income for the credit union
Why servicing matters
This webinar is geared toward those new to executive benefit programs or who would like a refresher on how benefit plans work.
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